MORE Power announces P141 million one-time refund this Nov. 2023 billing cycle

MORE Power iloilo linemen repairing electric meters

MORE Electric and Power Corporation (MORE Power) announced a substantial one-time refund, totaling P2.7644 per kilowatt-hour (kWh), benefiting approximately 92,000 consumers.

The one-time refund of pass-through charges, as confirmed by Mr. Niel V. Parcon, MORE Power’s Vice President for Corporate Energy Sourcing and Regulatory Affairs (CESRA), is in compliance with the Energy Regulation Commission – A Resolution Adopting the Revised Rules Governing the Automatic Cost Adjustment and True-up Mechanisms and Corresponding Confirmation Process for Distribution Utilities.

The refund covers the accumulated differences in the billed amount computed from January 2023 until September, reflecting a P2.7644/kWh rate reduction in the bills received by customers from November 18 to December 14 billing cycle.

“Ang aton billing, like ang generation kag transmission charges, ang aton gina bill sa aton customer nagabase sa presyo sang nagligad nga bulan pero ang aton ginabayad sa aton mga suppliers nagabase sa rate sa current nga month,” Parcon said.

Parcon said all consumer classes, including residential, commercial, industrial, and government accounts, stand to benefit from the accumulated P141 million one-time refund.

“Starting January 2023, nag-accumulate na sa P141-M ang over or under-recoveries nga kun e-convert mo into rates that’s equivalent to P2.76,” Parcon added.

Based on calculations, residential customers consuming 200 kWh stand to benefit from a reduction of over P550 in their bills.

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